Housing Mobility and Downsizing at Older Ages in Britain and the United States
42 Pages Posted: 22 Sep 2010
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Housing Mobility and Downsizing at Older Ages in Britain and the United States
Date Written: September 21, 2010
Abstract
This paper examines geographic mobility and housing downsizing at older ages in Britain and America. Americans downsize housing much more than the British largely because Americans are much more mobile. The principal reasons for greater mobility among older Americans are two fold: (1) greater spatial distribution of geographic distribution of amenities (such as warm weather) and housing costs and (2) greater institutional rigidities in subsidized British rental housing providing stronger incentives for British renters not to move. This relatively flat British housing consumption with age may have significant implications for the form and amount of consumption smoothing at older ages.
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